Technology
Elon Musk in trouble with SEC over another tweet
Image: Joshua Lott/Getty Images
Last week Tesla CEO Elon Musk couldn’t contain himself — he had to tweet about his electric car company and how many cars it would make by the end of the year.
The problem? He isn’t supposed to tweet about things that could impact markets and his publicly traded company. After he reached a settlement with the U.S. Securities and Exchange Commission last year over his now infamous “take Tesla private” tweet, he’s not supposed to tweet about Tesla without approval from the company.
Tesla made 0 cars in 2011, but will make around 500k in 2019
— Elon Musk (@elonmusk) February 20, 2019
Now Bloomberg reports that the SEC is asking a judge to hold Musk in contempt for tweeting Tesla “will make around 500K in 2019.”
On the same day of the original tweet, a few hours later, Musk amended his comment, clarifying that he meant an “annualized production rate” based on 10,000 cars made per week.
Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.
— Elon Musk (@elonmusk) February 20, 2019
Both tweets still remain up on his Twitter feed.
We reached out to the SEC for more information.
This story is developing…
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